Fleet Fuel Management: Analysis and Reporting
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This document discusses the importance of properly managing fleet fuel costs and expenses. It notes that fuel auditing, ensuring accurate fuel prices, tracking surcharges, and addressing potential fuel theft can be overlooked without dedicated monitoring. It recommends hiring a professional fleet management service to conduct analysis, provide detailed reports, and help ensure taxes are handled correctly. Taking control of the fleet through these steps can help a business maximize its profitability.
Fleet Fuel Management: Analysis and Reporting
- 1. Fleet Fuel Management: Analysis and Reporting …DoYouHaveEverythingUnderControl?
- 2. BusinessattheSpeedofLight • As the volume of business and the speed at which it takes place has increased, so has the potential to overlook key components of a businesses strategy. • This is where expenses can easily get overlooked. • Rather than just plodding on forward, here's some questions that your board of directors needs to stop and ask itself.
- 3. WhoAuditsYourFueling? • Fuel auditing is one of the first maintenance tasks to fall on the way side. • Because it can be a tedious and ungrateful job, many business let it drift. • Ironically however, this is also one of the areas that a business is most likely to lose money on if not properly managed. Fleet management services can turn this around for you.
- 4. ArethePricesCorrect? • In any fleet dependent business, knowing the current price of fuel is essential. • What if you’ve been overlooking something and these numbers are incorrect though? • Unless you have a dedicated fleet manager who pours over these documents every day, you may never know how much you’ve lost.
- 5. WhoKeepsTrackofSurcharges? • Surcharges have become so prevalent in business anymore that many hardly consider them worth noting. • However, left unchecked and these charges can get hefty. • Unless you are regularly monitoring all the surcharges pertaining to doing business with someone, you can never get an accurate picture of your actual expenses.
- 6. IgnoringtheProblemDoesn’tHelp • It’s been said that 81% of all fuel theft is an internal problem, while 4% of all business transactions are done incorrectly. • In other words, 8 out of 10 fuel thefts originate from employees and 4 out of every one hundred transactions are billed incorrectly. • Whether you want to deal with it or not, the statistics show that not facing a problem can have severe financial consequences.
- 7. ProfessionalAnalysis • If you’ve gone through these questions and realized that your have been defunct in many of these areas, don’t panic. • It’s not too late. • The first step is in hiring a business that offers professional fleet analysis. Through this process you will get a detailed report of how efficient your operation is and how to tighten up any loose areas.
- 8. ProfessionalReporting • One of the great things about hiring another company to handle your fleet management is the detailed reports that you gain access to. • If we’re honest with ourselves, no-one really has the time to tell us everything that would be helpful. • A third-party manager however is hired for no other reason than this very sort of thing.
- 9. AreOurTaxesOK? • Just about everyone is in agreement that the tax code has gotten too complicated. • When servicing multiple states, this can be even more confusing. • With a flood of receipts, paperwork, and dates that must all be coordinated, it’s easy to overlook something. Unfortunately, the consequences that the IRS gives can be expensive.
- 10. TakeControlofYourFleet • Fleet driven business has the potential to make large amounts of money and can be very lucrative. • Imagine how much more lucrative it could be if you were able to dedicate more time on every detail. • By looking into professional reporting and analysis services, you are taking a step towards greater control of your fleet and its assets.